Sensex closes flat; metal stocks gain

Mumbai, Jan 31 (IANS) A benchmark index of Indian equities markets Friday closed flat — 15 points or 0.08 percent up — with some good buying in metal, oil and gas stocks.

The 30-scrip S&P Sensex of the Bombay Stock Exchange (BSE), which opened at 20,544.64 points, closed at 20,513.85 points — up 15.60 points or 0.08 percent from its previous day’s close at 20,498.25 points.
The Sensex touched a high of 20,572.32 points and a low of 20,448.43 intra-day.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) closed 15.80 points or 0.26 percent down at 6,089.50 points.
“The surprise increase in repo rate by the RBI (Reserve Bank of India) impacted sentiments to some extent. Going ahead, the concerns on growth and inflation remain,” said Dipen Shah, head – private client group research, Kotak Securities.
The S&P BSE metal index increased by 114.41 points followed by oil and gas index, which fell 98.87 points, and bank index, down 93.63 points. However, The S&P automobile index fell 50.36 points.
The major gainers were: Tata Steel, up 2.77 percent at Rs.356.15; Tata Power, up 2.71 percent at Rs.73.95; Gail India, up 2.62 percent at Rs.358.95; Mahindra and Mahindra, up 2.43 percent at Rs.890.45; and Bharti Airtel, up 2.19 percent at Rs.315.15.
The main losers were: Tata Motors, down 3.14 percent at Rs.349.85; HDFC, down 2.50 percent at Rs.808; Hero MotoCorp, down 1.47 percent at Rs.1,970.45; NTPC, down 1.33 percent at Rs.126.40; and Bajaj Auto, down 0.92 percent at Rs.1,902.80.
A negative sentiment ruled in the international markets.
Among the Asian markets, Japan’s Nikkei closed 0.62 percent down, and Hong Kong’s Hang Seng lost 0.48 percent. China’s Shanghai Composite Index, too, fell by 0.82 percent.
In Europe, London’s FTSE 100 was trading 1.04 percent down while Germany’s DAX Index was lower by 1.72 percent. The French CAC 40 Index was down 1.11 percent.